Security Breaches in the News

 

A major data breach may be one of the most serious types of security incidents, which may result in legal and regulatory sanctions as well as serious reputational damage to an organization’s brand.

 

Provide a brief summary of an instance where a company fell victim to a major data breach. (Please be sure to first read all the posts in this discussion to date so that you are reviewing a company whose data breach incident has not already been covered by a classmate.)

 

Discuss the features that characterize the data breach. Describe the salient features of the attack, when and how the breach incident was discovered, the data that was illegally accessed, and the consequences of the breach to the organization and the actions taken in its wake.

 

Please choose one company who was victimized by a significant data breach from the following list, or you may choose to discuss a data breach incident with which you were professionally involved:

 

Adobe.

Adult Friend Finder.

Anthem.

Ashley Madison.

Ebay.

Equifax.

Heartland Payment Systems.

Home Depot.

JP Morgan Chase.

National Security Agency (NSA).

RSA Security.

Sony’s PlayStation Network.

TJX Companies, Inc.

VeriSign.

Yahoo.

US Office of Personnel Management (OPM).

Sample Solution

In 2014, JP Morgan Chase fell victim to one of the largest data breaches in history. The breach was discovered when suspicious activity began appearing on accounts belonging to a small number of customers. Upon further investigation, it became apparent that hackers had gained access to the company’s databases and were able to steal personal information such as email addresses, home addresses, phone numbers and account numbers from over 76 million customers (Newman & Robinson-Avila, 2015).

The attack was attributed to a group of criminals known as ‘CyberVor’ who used sophisticated methods such as SQL injection in order to gain access into the bank’s networks (McGeehan & Smith, 2014). As a result of this incident, JP Morgan Chase was forced to invest millions of dollars improving its security protocols which included tighter measures for authentication processes and additional encryption technologies. Moving forward, the company also implemented processes for regularly monitoring their systems to detect any potential threats early on. In conclusion, this major data breach serves as an important reminder that companies should pay close attention towards cyber–security threats and develop effective strategies for responding them quickly if need be. By taking proactive steps like investing in robust technologies or establishing relationships with trusted partners, organizations can help protect themselves against future attacks while preserving customer trust.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In October 2017, Equifax, one of the largest credit reporting bureaus in the United States, announced that its systems had been breached by an intruder who accessed private information belonging to 147 million customers. Personal data such as names, Social Security numbers, birth dates and addresses were exposed in what was considered one of the largest breaches ever. The incident resulted in multiple lawsuits against Equifax and led to multiple regulatory investigations into how the company handled user data. Additionally, it cost over $1 billion dollars in fines to various government agencies.

 

 

 

 

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